Omnity Network Announces cessation of operations due to the exhaustion of operating funds; RichSwap and Satsman will close within 30 days
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AT A GLANCE
Omnity Network States that it will cease operations due to the exhaustion of operating funds; RichSwap and Satsman will cease operations within the next 30 days.
Article
Omnity Network Announces cessation of operations; its Bitcoin DeFi products will close within 30 days
BlockBeats reports that September 28, according to official sources,Omnity Network announced that it will gradually cease project operations due to the exhaustion of operating funds. Omnity Network's Bitcoin DeFi products, RichSwap and Satsman, will cease operations within the next 30 days. The team reminded RichSwap liquidity providers to withdraw their liquidity as soon as possible, and stated that it will upgrade the smart contracts and lift existing lock-up restrictions to enable users to withdraw funds without restriction. A detailed operational timetable and liquidity withdrawal guide will be released soon.
Omnity Network stated that support channels will remain open for 30 days during the transition period to assist users in completing the relevant procedures. Although the project will cease operations, core team members will continue to support the Bitcoin ecosystem and plan to participate in related development through individual efforts and developer collaboration organizations.
Original link https://m.theblockbeats.info/flash/369245
Key points
01
BlockBeats stated that its information came from official sources.
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Omnity Network Announced that it will gradually cease project operations due to the exhaustion of operating funds.
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RichSwap and Satsman will cease operations within the next 30 days.
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The team reminded RichSwap liquidity providers to withdraw their liquidity as soon as possible.
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Omnity Network stated that it will upgrade the smart contracts and lift existing lock-up restrictions to enable users to withdraw funds without restriction.
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A detailed operational timetable and liquidity withdrawal guide will be released soon.
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During the transition period, support channels will remain open for 30 days.
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Omnity Network stated that core team members will continue to support the Bitcoin ecosystem and plan to participate in related development through individual efforts and developer collaboration organizations.
AI-assisted interpretation
The following is analysis, separate from reported facts. Verify important claims independently.
This means that Omnity Network and its Bitcoin DeFi products will cease operations. RichSwap liquidity providers are reminded to withdraw their liquidity as soon as possible; other users need to await the official release of a detailed timetable and operational guidance, and monitor the lifting of lock-up restrictions.
Why it matters to readers
The products are about to cease operations, leaving users limited time to take action. Whether funds can be withdrawn successfully also depends on smart contract upgrades, the lifting of lock-up restrictions, and the release of subsequent operational guidance.
If you provide liquidity on RichSwap or hold funds in RichSwap or Satsman, you should follow subsequent official guidance and support channels; do not act solely on relayed information.
Risks and unknowns
No evidence provided Omnity Network No original official announcement link was provided; the cessation-of-operations arrangements currently derive from BlockBeats' relay of official information.
It is unclear whether the smart contract upgrade and the lifting of the lock-up restrictions have been completed; the evidence does not specify this.
A specific shutdown schedule and liquidity withdrawal guidance have not yet been published.
The evidence contains no record confirming whether users can actually withdraw all funds without restrictions.
Related Developments
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Related concepts
DeFi
A decentralized financial system that conducts activities such as lending and swapping through blockchain protocols.
